Friday, April 3, 2009

Unemployment Is Up Again

The unemployment rate went up to 8.5% in March.

This is more bad news. But, keep in mind that the unemployment rate is a lagging indicator, so when the economy does trough, the unemployment rate will continue to rise for a while.

Also keep in mind that we’re seeing a lot of record/date noting in the legacy media: statements like this is the highest rate since 1983.

This is correct.

But, last month was also the highest since 1983, so there isn’t anything new there.

It’s like saying the Jazz are still not the best team in the league: it would be more useful if they told us something we didn’t already know.

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